PERP Coin Crypto Flys 26 Percent Early January 2024, Here's Its Performance
Perpetual Protocol is a decentralized exchange (DEX) for futures on Ethereum and xDai. Traders can go long or short with up to 10X leverage on an ever-growing number of assets such as BTC, ETH, DOT, SNX, YFI and more.
Reporting from Coinmarketcap, trading on Perpetual is non-custodial, meaning traders always retain ownership of their assets, and on-chain. Perpetual Protocol uses a virtual automated market maker (vAMM), which provides on-chain liquidity at predictable prices set by a constant product curve.
Perpetual Network has its own utility crypto token called PERP Coin. PERP is a utility token that incentivizes and facilitates decentralized protocol governance. Perpetual Protocol's stated vision is to create the best, most accessible, and most secure decentralized derivatives trading platform in the world. By building our DeFi projects and allowing projects to be built on top of the Perpetual Protocol, the company is embracing the “DeFi money lego” ethos. Having achieved a number of milestones in its roadmap, such as launching a staking pool and implementing limit and stop-orders, Perpetual Protocol plans to expand to other chains, introduce leveraged tokens, and launch dynamic liquidity in its pools.
Founder of Perpetual Protocol
Perpetual Protocol was launched by Yenfen Weng and Shao-Kang Lee, two Taiwanese cryptocurrency entrepreneurs who had previously launched a payroll and accounting company for crypto startups. Most of the team is based in Taiwan. Perpetual Protocol is backed by many highly reputable investors, such as Zee Prime Capital, Multiarrows Capital, CMS Holdings, Binance Labs and Alameda Research, a strategic partner of FTX. With their support, the company closed a seed round led by Multicoin Capital for USD 1.8 million in 2020.
Tujuan Protokol Perpetual adalah untuk menciptakan platform perdagangan kontrak abadi yang dapat digunakan siapa saja. Untuk melakukan itu, pengguna harus dapat berdagang dengan likuiditas yang baik dan slippage yang rendah.
Protokol Perpetual memecahkan ini dengan menggunakan solusi vAMM-nya. Protokol Perpetual tidak mengikuti model buku pesanan biasa dari pertukaran terpusat. Sebaliknya, pedagang berdagang melawan pembuat pasar otomatis virtual, yang likuiditas awalnya diatur oleh operator.
PERP Price
Based on Coinmarketcap data, Wednesday (3/1/2024), the PERP price was IDR 28,783 with a 24-hour trading volume of IDR 2.6 trillion.
PERP rose 26.72 percent in the last 24 hours. Meanwhile, the current Coinmarketcap ranking is 332 with a market capitalization of IDR 1.9 trillion. To date, there has been a circulating supply of 76,475,000 PERP out of which the maximum supply is not available. Disclaimer: Every investment decision is in the hands of the reader. Study and analyze before buying and selling Crypto. Liputan6.com is not responsible for profits and losses arising from investment decisions.
Bitcoin Price Rises Above IDR 695 Million for the First Time Since April 2022
Previously it was reported, Bitcoin jumped above USD 45,000 or the equivalent of IDR 695.8 million (assuming an exchange rate of IDR 15,462 per US dollar) on Tuesday, January 2 2024 for the first time since April 2022. Reporting from Yahoo Finance, Tuesday (2/1/2024), the world's largest cryptocurrency started the New Year with a bang supported by optimism surrounding the possible approval of a Bitcoin Spot ETF. Bitcoin touched a 21-month peak of USD 45,532 or equivalent to IDR 704.1 million, after rising 156% in 2023 in its strongest annual performance since 2020, but the Bitcoin price is still far from the record high of USD 69,000 or equivalent to IDR 1 billion reached in November 2021 .
Investor focus is on whether US securities regulators will soon approve a spot bitcoin ETF, which would open the bitcoin market to millions more investors and attract billions in investments. The U.S. Securities and Exchange Commission has rejected several applications to launch spot bitcoin ETFs in recent years, arguing the cryptocurrency market is vulnerable to manipulation. However, in recent months, there have been increasing signs that regulators are ready to sign off on at least some of the 13 proposed spot bitcoin ETFs, with expectations such decisions will likely be made as early as January. Additionally, increasing speculation that major central banks will cut interest rates this year is also a boon for cryptocurrencies, helping to dispel the gloom that prevailed in the crypto market following the collapse of FTX and other crypto business failures in 2022.
Revealed, Bitcoin ETF Approval Will Not Boost Price Surge
Previously reported, Greeks live, a platform for trading crypto options products, predicts no significant price spike after US regulators approved a spot Bitcoin ETF according to data from its platform. According to a tweet by Greeks.Live, the latest market data from its trading platform shows despite speculation about the SEC approving Bitcoin Spot ETF applications next Tuesday, there is little volatility in implied volatility and headline term prices. "Implied volatility measures market expectations for future price movements of option contracts," said Greeks.Live, quoted from Cointelegraph, Tuesday (2/1/2024).
According to a Reuters report, the US SEC may contact Bitcoin ETF applicants early next week. This development is expected to be very important for the crypto market, allowing investors to trade Bitcoin-backed ETFs on regulated exchanges. However, a tweet from Greeks showed unexpectedly low market activity in reaction to the news. Options data shows implied volatility for Jan. 12 options, which are closely tied to ETFs, actually decreased rather than increased. Additionally, the trading volume for these options is very low. Based on this data, Greeks.live confirms the market has already priced in the potential approval of a spot Bitcoin ETF. In other words, market participants can expect this to happen and change their positions accordingly, so that the agreement actually has a limited impact on price and volatility.
